Answers to some of the less frequently asked questions in second-lien term loan financings are presented. As the second-lien term loan market has developed, there is growing agreement among first- and second-lien lenders on the answers to some of the more frequently asked questions in the intercreditor discussions. In a second-lien term loan deal, first-lien debt is generally broadly defined to cover all obligations under the first-lien debt documents, including principal, interest, premium and hedging obligations, subject to a cap on the amount of the first-lien debt. First-lien debt is often defined as debt incurred under the first-lien debt documents, subject to a cap on the principal amount of the debt that qualifies as first-lien debt. Second-lien loans are far from being a commodi...
Moody's Investors Service is upgrading its outlook on Reynolds and Reynolds from negative to positive. Moody's also affirmed its status on the company's corporate family and probability of default ratings at B1, first lien term loan and revolving credit facility at Ba2, and second and third lien term loans at B3.
...SUBCHAPTER B: FARM CREDIT SYSTEM. PART 614: LOAN POLICIES AND OPERATIONS. Subpart E: Loan Terms and... estate mortgage loans must be secured by a first lien interest in real estate, except that the loan...
NEW YORK (LPC) - In a troubling sign for banks already facing constraints in bringing new deals to the leveraged loan market, the current crop of issuers are opting for steeper discounts over spread increases, eating into the fees that banks earn. To appease investors wary of taking on credit risk in a still uncertain market, Blackboard Inc. and Telx Group last week lifted the coupons on their respective buyout loans but also offered the loans at unusually high discounts.
..., lifted the coupon on its $780 million first-lien term loan by 50 basis points to 600 basis poi...
... the launch of a refinancing of the existing first lien term loan. In connection with this proposed r...
...* Production increased 29% from the first quarter of 2010;. * In the North Sea, ATP was awar... at Cheviot, ATP's largest development in terms of proved and probable reserves in the North Sea, ... billion high yield and $150.0 million first lien term loan offering that refinanced its prior term ...
... With Proceeds of New Debt Secured by Liens on Assets of an Entity, not an Obligor, on the Ref... exchange for granting liens to secure a new loan, the proceeds of which were used to repay obligati... 31, 2007, TOUSA entered into a $200 million first lien term loan facility and a $300 million second ...
...") borrowed $200 million pursuant to a first lien term loan facility and $300 million pursuant ...
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